Needham & Company LLC Has Lowered Expectations for Backblaze (NASDAQ:BLZE) Stock Price

Backblaze (NASDAQ:BLZE) had its target price cut by Needham & Company LLC from $8.00 to $6.00 in a research note issued on Tuesday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 52.67% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Backblaze in a research note on Wednesday, January 21st. Raymond James Financial restated an “outperform” rating on shares of Backblaze in a research note on Thursday, November 6th. Finally, Citigroup restated a “market outperform” rating on shares of Backblaze in a report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Backblaze currently has a consensus rating of “Moderate Buy” and an average price target of $7.21.

Backblaze Stock Performance

Shares of BLZE stock opened at $3.93 on Tuesday. Backblaze has a 12-month low of $3.67 and a 12-month high of $10.86. The business’s fifty day simple moving average is $4.60 and its 200-day simple moving average is $6.69. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.24. The company has a market cap of $226.76 million, a PE ratio of -8.54 and a beta of 1.28.

Institutional Investors Weigh In On Backblaze

A number of institutional investors and hedge funds have recently modified their holdings of BLZE. Royal Bank of Canada increased its holdings in Backblaze by 1,388.2% in the 4th quarter. Royal Bank of Canada now owns 5,551 shares of the company’s stock worth $26,000 after buying an additional 5,178 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Backblaze by 39.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,469 shares of the company’s stock valued at $30,000 after acquiring an additional 1,559 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Backblaze in the 3rd quarter valued at $47,000. ProShare Advisors LLC acquired a new stake in shares of Backblaze in the fourth quarter worth $47,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of Backblaze in the fourth quarter worth $47,000. Institutional investors and hedge funds own 54.03% of the company’s stock.

Backblaze News Roundup

Here are the key news stories impacting Backblaze this week:

• Positive Sentiment: Q4 2025 earnings highlights showed record growth and strategic milestones, giving investors confidence in revenue/usage traction as Backblaze positions itself for AI workloads. Backblaze Inc (BLZE) Q4 2025 Earnings Call Highlights: Record Growth and Strategic Milestones
• Positive Sentiment: Backblaze named Rhett Dillingham SVP of Product, strengthening AI/cybersecurity and product leadership — a hire that supports roadmaps for higher-value, AI-era storage services. Backblaze Appoints Rhett Dillingham Senior Vice President of Product
• Positive Sentiment: Backblaze will present at the Citizens Technology Conference (March 2) — increased investor visibility and a CFO-hosted webcast can help reinforce the company’s execution story. Backblaze to Present at the Citizens Technology Conference
• Neutral Sentiment: The full Q4 2025 earnings call transcript and detailed notes are available for investors parsing guidance and unit economics; these are informational and may influence longer-term sentiment. Backblaze, Inc. (BLZE) Q4 2025 Earnings Call Transcript
• Neutral Sentiment: A recent third‑party review compared Backblaze with peers (e.g., Palantir) — useful context but not an immediate catalyst. Reviewing Palantir Technologies (NASDAQ:PLTR) and Backblaze (NASDAQ:BLZE)
• Neutral Sentiment: Short-interest data posted was effectively zero/erroneous (reported as 0 shares with NaN change), so there’s no clear short-squeeze dynamic at play based on the available figures.
• Negative Sentiment: Analysts at B. Riley and Needham trimmed price targets (B. Riley $9 → $7.50; Needham $8 → $6) though both kept “buy” ratings. Lower PTs reduce immediate upside expectations and can weigh on sentiment despite the buy stance. Benzinga Backblaze Inc (BLZE) PT Lowered to $6 at Needham

About Backblaze

Backblaze, Inc, a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases. This service is offered as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases, such as public, hybrid, and multi-cloud data storage; application development and DevOps; content delivery and edge computing; security and ransomware protection; media management; backup, archive, and tape replacement; repository for analytics, artificial intelligence and machine learning; and Internet of Things.